Forex News

AUD/USD is under pressure, heading towards 0.7100  amid broad US dollar strength. Risk sentiment sours on US stimulus woes and virus contagion, lifting the safe-haven dollar. Focus remains on US stimulus news, coronavirus stats. 

USD/JPY's recovery from Wednesday's 0.85% decline is picking up pace in Asia, as the US dollar gains its feet amid risk-aversion. The reports that the BOJ will likely cut its growth and price forecasts for the current fiscal year at this week's monetary policy meeting weigh on the yen. 

Gold is under pressure starting out a fresh week, battling $1900 amid resurgent haven demand for the US dollar. The greenback regains ground on Monday, as the second wave of the coronavirus accelerates at full steam in Europe.

WTI hits three-week low, extending the previous week's 3% decline. The daily chart indicators scope for further losses. The daily chart relative strength index now shows an ascending triangle breakdown, a bearish pattern.

The American dollar remained under selling pressure at the end of the week, amid political jitters in the US. Republicans and Democrats have continued to discuss a coronavirus stimulus aid package.